Louisiana State Employees Retirement System Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Louisiana State Employees Retirement System decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,500 shares of the financial services provider’s stock after selling 5,800 shares during the quarter. JPMorgan Chase & Co. accounts for 0.6% of Louisiana State Employees Retirement System’s portfolio, making the stock its 16th biggest holding. Louisiana State Employees Retirement System’s holdings in JPMorgan Chase & Co. were worth $32,867,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital International Investors raised its position in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $6,016,878,000. Capital World Investors boosted its holdings in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after acquiring an additional 150,812 shares during the period. Dimensional Fund Advisors LP grew its position in JPMorgan Chase & Co. by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after acquiring an additional 695,502 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after purchasing an additional 154,426 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $218.28 on Friday. The company has a 50 day moving average price of $206.81 and a 200 day moving average price of $196.86. The firm has a market capitalization of $626.83 billion, a P/E ratio of 12.17, a PEG ratio of 2.42 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $219.19.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

Insider Buying and Selling

In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JPM shares. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Citigroup upped their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.